Lost in the chaos of the steel and aluminum tariff news from yesterday was the filing of anti-dumping petitions and countervailing duty petitions against the countries of Algeria, Vietnam, Bulgaria, and Egypt on concrete reinforcing bar. Since the closing of the 232 loopholes in February, these 4 countries collectively garnered the highest attention from US buyers of imported rebar. As such, the Rebar Trade Coalition (Buyer Steel, Commercial Metals, Gerdau, Nucor, Optimus, and Steel Dynamics) filed the petitions yesterday in an attempt to find dumping practices and assess further duties appropriately.

While this move may appear to be a moot point given the tariff increase, which already affects these countries and will likely kill any imports already, it would prove to further deter imports from these countries if the actions on the tariffs were reversed in the future.  These petitions will be in place and will be another obstacle or hurdle in front of these countries to send their rebar to the US. The Department of Commerce will review the cases and decide in the months ahead.

We will continue to monitor this situation as well as others that impact the rebar market.